Turkish lira at an all-time low

The value of the Turkish lira fell to a minimum against the US dollar.

According to December 10 trading data, one US dollar is worth 13.94 liras.

The dollar was worth 6.9 lira in February, after which the Turkish currency depreciated by almost 120 percent.

The lira depreciated further because the Central Bank of Turkey decided to reduce the discount rate from 16% to 15%.

In mid-October, the lira fell sharply after Turkish President Recep Tayyip Erdogan fired three senior central bank officials, including two deputy governors.